>>neil: the pain at the pump turning a free pain in the "gas," for lawmakers. gas speaking for 27th straight day. democrats in washington now pushing federal regulators to crackdown on speculative energy trading that the president promised to do a year ago. >> attorney general is putting together a team would job it is to root out any cases of fraud or manipulation in the oil markets that could affect gas prices including the role of traders and speculation. we will make sure that no one is taking advantage of the consumes. >>neil: that was back in april of last year.

the president's task force meeting four or five times since then and 11 months later the price is still very high averaging $3.77 a gallon, and market watcher not surprised. so, you are arguing the president claims no short-term quick fixes should have at least been along that way a year ago. >>guest: when you look at it, this administration over and over genitals the public that this are evil speculators out there and if you think become to the banking crisis there were evil short sellers and the last thing we need is the government, again, serving their nose in to free markets and u.s. capital markets we don't need the government spending money on commission that at the end of the game you look at the at the simpson-bowles commission, they just paid no attention to that commission.

will the u.s. government stick their nose in to flow markets and when people see marks they get nervous. >>neil: are part of them nervous with other forces at play here? >>guest: no, what the regular joe retail guy does not understand, there are no a group of evil speculators but futures traders would look at the geopolitical terrain and they see that there is a lot of trouble on the forefront and they make bets with risk capital they earn themselves and in the future gas could be worth more so they are buying it today at a spot price. >>neil: they could be wrong but they could gun the system in the meantime. you can get ahead of yourself and they lose as much as anyone but do you think they have gunned it beyond the norm? >>guest: i don't think it is a small group of people out there specifically trying to manipulate prices.

>>neil: but can they without manipulation push it beyond the norm? >>guest: oil and gas traders are making a future bet which u.s. free capital markets allow and they are saying the way they look at the landscape they see there will be more trouble on the horizon and any are making a bet with their risk capital and when the government steps their nose in to free market we have more trouble on our hands. >> you have argued at the although of the time it is washington taking its eye off the responsibility and not doing negative about drilling or acting on the idea of getting over the short-term. >>guest: absolutely. why not look at whatever money we are going to spend on the new commissioner the blue rib been panel that will make recommendations about the suppose the specific players why not spend that money on bringing domestic resources to the forefront and talk about better ways to be safe and drill and

talk about the keystone pipeline and look in to that stuff rather than lock at speculatings engaged in age old froes any, u.s. flow market capitalism. until until thank you. in the meantime general motors is hoping natural gas is where it is after letting off 1,300 volt workers and g.m. is shifting gories, now putting the pedal to the metal on natural gas. g.m. is hoping that can get drives to buy. and a republican congressman and car dealer what do you thing of this? >>guest: well, i wonder why it took so long it has only been 3 1/2 years and we are look for the grown pipe -- green pipe dreams. the biggest thing is the availability of natural gas and how you get it. i have friends that do this all day and they love we can use natural gas and the fossil fuel accounts for 78 percent of

energy production, it gets 11 percent when it comes to taxes and you go the other way, 77 percent, they do 11 percent of our energy production and they get 77 percent, so we have to blend things that make sense, and natural gas right now, very available, $25 versus $1006 a barrel for oil. >>neil: if g.m. goes through it will face the same quandary with the plug in there may not be the demand, say what you will about natural gas, but there are not a lot of until gas fill up stations this are communities i know where city buses work by this, but, they are few and far between. >>guest: don't you thing, it is the economy, gasoline was a byproduct we had so much when we

were refining oil not early days, and wondered with we could do with it and natural gas has a great, great future. all our natural resources, coal, oil, gas, we have to be smarter. i go to the administration that had pie-in-the-sky dreams. >>neil: but do you think this is g.m.'s way of telling the president, look, we have given up on you, we are not killing the volt but we are almost side lining it and looking at this as a more realistic future? >>guest: well, always a brides maid and never a bride, the dreams do not fit what we have available. god has given us a lot of natural resources make the most of what we have and let the market drive the incentives. >>neil: did the g.m. just tell the president where to get off?

ing they will build what cars they need and not what the administration needs. >>neil: always a pleasure. thank you. well, with g.m. turning to natural gas and another cat company is turning to charlie sheen i kid you not. is this a winning strategy? and the winner takes et all. you may like that in a song but ahead of super tuesday, this ain't it [ leanne ] appliance park has been here since the early 50s.

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or stream over 1,100 songs. or use gps navigation for 34 continuous days. all the data you need to power your favorite apps. 4 gigabytes for $30. only on america's largest 4g lte network. now buy one samsung stratosphere for $99.99, get another one free. verizon. >>neil: we have befores with an romney and ron paul but ten states on tuesday, not one a winner take all, in other words the go who wednesday the state gets all the delegates, so it will take a long time to settle this no matter what happens tomorrow. >>guest: it will take a long time to officially settle it. we could be setted quicker if

romney is able to ride the momentum. remember, each week everyone has risen they had the voters pull the chair out from them the next week. romney had a big success in michigan by surviving. and winning both primaries that day. and arizona. big. and wyoming. but, the real surprise for me and why i think he could be on the verge of becoming, again, the nominee is washington state on saturday. i didn't expect him to when that or if i did it would be close but he won it handily and santorum finished third. he has been sliding since he attacked my hero, john kennedy, and said in a speech, the comment about separation of church and state. that is personal. i have to say that. the point is he had a rough week and he should have -- it was not

a good debate and people were waiting. sometimes it is tougher, the hardest thing is not necessarily getting to be your moment but it is how you handle the moment. romney keeps coming back and i will say, tomorrow, we will know one or to things, and it could drag out delegate-wise but if romney wins ohio and he has the same help, he needs to give donald trump something because trump -- romney can do the same thing in ohio as trump, and he is moving in tennessee and it could be a good luck charm something, and he owes him big time. >>neil: he can be on the next "apprentice." if it is proportional voting and if romney picks this up, and he does take the lion's share of the delegates tomorrow, is it proportional? >>guest: and, but here is the problem if you are not actually

winning something being able to success establish the campaign with the super pac's, that is hard. the republicans, however, have this problem, they desperately need to get this process over with, the one walking -- "wall street journal" poll showed the damage done to the party. >>neil: were they the same in 1992 when democrats were beating each other up? >>guest: this is more severe because it has been deeply divisive, independents and the republicans brand that is suffering. here is the problem, too, the president is out there like a short order cook, and you need gasoline, what you were talking about? i will take kay of the oil companies and you want me to be pro israel? >>neil: cheeseburger. cheeseburger. cheeseburger. >>guest: he gets away with it because he is not challenged.

>>neil: but the other nominee, and we have the two figures they go at it. >>guest: but the problem is the president still has problems. but mom, right now, resume he will win the nomination the negatives are high. disproportionately higher than anyone at this stage in recent history. higher than bob dole. the problem is, among enthusiasm, the drop off in republicannen enthusiasm for sell. >>neil: they are not engaged or jazzed. >>guest: they were jazzed last fall and 9 percent of, rather, people who are most enthusiastic romney was holding by nine last fall so there are ups and downs but you need to get back and get on track. >>neil: so regardless of the

delegates if he takes the lion's share tomorrow --. >>guest: not the delegates he needs the contest. >>neil: the perception is he has the mojo? >>guest: if he wins five or six of the contests, the republican leadership will say, high god we have to get this over with. >>neil: okay, we shall see. patrick, always a pleasure. and the super tuesday lineup is kickoff at 8:00 p.m. tomorrow on the fox business network and not only pat but sarah palin, and former g.o.p. candidate herman cain and democratic governor cuomo, and imus just to make a few. stay tuned.

is the romney campaign worried about a long fight ahead? we will ask ann romney just ahead. and the u.s. housing secretary is next. if there was a pill

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>>neil: the 30 year fixed rate mortgage on track for the 14th straight week below 4 percent. 4 percent. well under, by the way, and despite the rates falling, housing is struggling and struggling. and now, the secretary of

housing and urban development is trying to change that. what changes this? >>guest: well, three key things we have to do. one is, get fewer people falling into foreclosure and help foams whether it is finding jobs or get them current on mortgages. we have too many properties vacant dragging down the prices. if you live next to a house in foreclosure you are doing everything right your house loses $5,000 or 10,000 when that sign goes up. the they are thing, we have too much uncertainty on making new loans. there are 10 percent to 20 percent of boyars who are good risk and finding it hard to get credit that those are the pair years. >>neil: the supply of homes in the market, a great depressants but many paying their mortgage wonder, why is my neighbor my colleague or my friend getting a break for not making good on his mortgage commitment when i am

getting burned for doing that. >>guest: well, the truth is, the vast majority of americans who are underwater are paying their mortgage, 90 percent, and the president has taken a number of steps over the last six months to help them, and as you said, we have record low interest rates and that would usually do a huge boost for the economy but we have not seen that come through because people can not refinance. so, we have put in place a series of steps to help more than ten million americans who are current, doing the right thing and paying, to refinance. >>neil: does not matter who has the loans. >>guest: right. >>neil: they can still take advantage. >>guest: we have done that where we can with fannie mae and freddie mac and f.h.a. and three million homeowners have not been able to refinance and they are paying, and the president wants to open up that option about $3,000 a year, a good-sized tax cut for them.

>>neil: but $26 billion plan, the fine to the banks, any response to that? it is still early but, any, is it moving the needle? >>guest: we signed it a few weeks ago, and it will be registered in court this week, so, it is too early to see big results, yet, but i can tell you a big cloud that was hanging over the market, the note mayor scenario, we could have had 10 or 15 years of 50 states suing and going in different directions. but, instead, what we get was one single clear set of standards on how you service a lone and how you foreclosure. >>neil: but fannie mae and freddie mac were kept out of that. >>guest: they agreed to the standards but they agreed because everyone had something to gain from doing it and when is the last time you saw 49 state attorneys general, republican and democrat agree on anything. >>neil: but here is what confused me about that deal.

for those who are robo signed out of their homes, for example, i think they get $1,500 or $2,000 check for what they went through but it applies to everyone forced out. how do you distinguish? people hearing this are saying, wait, that is not right. >>guest: i am glad you asked because there is confusion. we did a lot of investigations here and most of what we found was that someone had their paperwork lost and they had to pay an extra month, maybe some fees were charged, and most of the damage was not people lost their homes because they should not have but it was something that could have cost them $1,500 or $2,000, it was lick a -- a class action. >>neil: you did not see a difference, right? did everyone, or will get something? >>guest: the separate process if your damage was you lost your home, you can come in, prove what the damage was and get

whatever the amount is that was done. >>neil: but this was a stimulus program, despite the disguise? >>guest: well, recognize there was real damage done here. >>neil: in the end what is the $1,500 or $2,000 going to do until it puts more money in to the economy? in the end that is what this was, a mortgage rework program, for example, not done much to change the default rate or people who are making bad all over again. >>guest: look, again, most people, the punishment fits the crime, the damage was that amount. if it was worse they have other resource they can get to fully compensates them for the damage. the real thing here is, is this a response?

a lots people have done the right thing and live by someone wrongly foreclosured and damage was done to them and we wanted to bring help refinancing for homeowners who are current, and there are other ways the settlement helps homeowners but the punishment fits the crime, millions were hurt bit ans of the -- actions. it was not just the homeowners that were harmed but everyone in the neighbor. >>neil: but part of me, as a business go, i am saying, well, the $26 billion that the banks are responsible, to make this right, and to get everything addressed, what is to encourage them to increase lending or loosen the lending standards to not be so you it on people otherwise who would be qualified when they have been slammed with $27 billion kick in the behind? >>guest: we should hold them

accountable for where they have made mistakes and they did here. but the nightmare scenario, not just for the housing market, but for the banks themselves they could have had 50 different lawsuits from different states, dragging on over 10 or 15 years, so --. >>neil: you are right, they ditched that bullet because it was boater than 50 massive bullets but what i am saying, what would get them to keep helping if they know this is a big fine they have been paying and they will have to dress it and they don't went to get in hot wart again. >>guest: again, if we can turn the page on this, if we can turn the page on the servicing and the foreclosure standards, and the problems we had, and it doesn't turn the page on everything, but we did not investigate everything. what we are turning the page on is the issues we investigated, resolve those, get help to homeowners and, by the way, everyone is going to benefit. to we can get mother confident in housing market, resolve the

issues, take away the uncertainty, lending will be coming back and frankly homeowners will be more confident. >>neil: do you think this, say the banks are horrible people who having in of interest but the bottom line, the individuals are not to blame? they signed on, they knew they could not afor the house, yet, everyone is a victim but the banks. >>guest: well, neil, look, that's why we set up a program that tries to compensates people for the actual harm done. we are not saying everyone lost their house wrongly. we said there is a set --. >>neil: but this shows no discretion. >>guest: there are two ways to get compensated. one you can come in quickly and get a small payment and that is what the damage was. and, also, a separate process where you really lost your

house, you come in and demonstrate it and do a full review of it and that is the other way a homeowner can be helped so it does fit the remedy to what happens. at the end of the day there is plenty of blame to go around. what i am focused on is how to move beyond this and get to a please where we can help homeowners recover and the housing market, and there is a republican why we had 49 state attorneys general sign on, 24 republican and 25 democrat because there was a sense this was not only food -- good for homeowners but for the housing market. >>neil: thank you we will watch it more closely. ♪

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piqued my curiosity. >>guest: price the gasoline in the old silver pun, the old dollar before they give up on the silver dollar, silver dime. the actual dollar is over $3, depending on the day what the price of silver is. but in real money gasoline prices are actually going down and that is what, i used that the other day with bernanke when he started at the fed announced that silver buys 11 gallons so it is the money issue. there are other factors. i don't deny that. and with iran, that is, really, important, too, but, overall, when newt gingrich said he will get down to a couple dollars he is saying we will increase the supply so tremendously we will bring it down but if he does not increase the value of the currency he cannot do it. >>neil: you hit on something

that has been a focus on this show, congressman, so i don't know if that has you change your position on this because it has been a focus that the problem isn't escalating oil prices or gas prices but the problem is, our weak dollar and oil is getting prices so would you revert to a system where you peg the currency to something more solid? is that what this is about in or what? >>guest: no, that is what it should be and i have argued that case for a long, long time, and i think that what we should do in this country, because they will not change over quickly, they will wait until it is worse, we ought to be able to use the parallel currency. but internationally they are still using the dollar, the people are drifting from the dollar and not using the dollar as a reserve as much as they used to, and there are rumors,

well, if iraq wanted to use the euro or gold, and china wants to use something else, and that is a beg deal because that would play havoc if more and more left the dollar as the reserve, our problem would be worse, the price of fuel and oil would go up higher in terms of dollars. so, no matter --. >>neil: but the dollar thing, you are so smart you are going to least me in your wake, but the problem with the dollar, it is indicative of the problem in washington, to control our finances and spending more than we have and we have become this global currency laughingstock, and the only thing saving us is that there are greater laughing stops so by comparison we lock better but if washington doesn't get its act together and get the spending under control doesn't this mean assuming we did not change what we peg to the

dollar, oil or gas will get a lot more expense and inflation will be more of a problem. >>guest: absolutely, that is the case and that is what i have been warning. and people do not understand, really, if the oil prices and gasoline is going up, other things are going down like with computers, so, if inflation, it increases all prices equally it would not be a big deal but it goes in different areas and because energy is imported or international, and whether it is the cost of medical care, education, or housing money goes in to certain areas and bests the prices. you cannot get control of this if you do not control the dollar. my argument, also, is, bernanke and the federal reserve chairman has said this for 30 years i have been around, if congress did not spend to much money we would not have to protect the value of the dollar, but, if the fed wasn't monetize the debt the

congress could not spend the money. >>neil: there is that. congressman. thank you very much. always good to have you. ron paul. and on the campaign trail when this give starts to show strength in the polls, does he have this woman to thank? we will ask her because ann romney is next.

.

>>neil: romney is gaining momentum ahead of tomorrow's super tuesday race he is showing strength in ohio. a race that is looking like a close one in tennessee, too. this woman could have something to do with it, mitt romney's wife, ann romney. mrs. romney, go to have you. >>guest: thank you. >>neil: if this turns out okay for your husband they will ask you to do a lot more i don't know how you feel about that. >>guest: well, i of course will do whatever i can to help

and it is a small sacrifice to make for the good of the country. i've been one that has promoted the idea of mitt running last time our viewers heard me say this i would never do this again, but, actually, it was me this time when i said, i'm sorry, you are the fix it man and you have to fix it so i was the man encouraging him so it is only fair if i encouraged him to do that to keep going and to keep pushing and do whatever we have to do to bring sanity back to washington, dc, to get his economic message out there, and for me to be able to support him and talk with him and encourage him and be on the stump if i have to. >>neil: now, at a lot people knw you as the wife of mitt romney and i brought to viewers' attention last week, you are dealing with heavy stuff of your own. you have ms you have been public

about it. i say to people i have it, as well, and i will use it as an excuse any time and every time i can. so this is a difference between us in that regard. having said that, i know that the fatigue that comes with m.s., and i know when i watch you, because at every primary night you are there, win or lose, to introduce your husband and other spouses play periodically and they are in great shape, and i am not saying you are not healthy but do you feel like, not tonight, i cannot do this introduction tonight, i cannot handle this. >>guest: i feel like that family quite a bit, and that is one thing where we can bring some attention to people that are suffering from the disease and recognize that those that have m.s., it is universal that you have fatigue, and i try to explain the fatigue to people and it is a hard thing, a hard

thing to explain but for me, i know when i have hit the wall when why have the energy to talk anymore, and, so, that is not, that is funny for a woman who is, lie, no, i can't talk anymore. >>neil: or a politician. >>guest: that is right. so when i reach that point i am like i know it is time to get of 50 the trail and my mores rejuvenate me, they give me balance, energy, i think it is because i love them so much, and, you know, and on michigan primary day i slipped away and joined with friends and rode horses on the primary day in michigan, so, you know, if smell have lovers in every port and i have horses in every port. >>neil: there is a lot to that therapy i, i don't want to get on a horse because i would break the horse's back, so we will leave that out. the reason i raise this is not

to belabor the illness but it will come up if you should become first lady, and whether you are up to the rigors of that job, what do you say? >>guest: listen, if i can do a campaign and i have not been home since january, since the new hampshire primary i have not been home, i have been on the road, lived out of the same suitcase, if i can do that i am up to whatever responsibilities and duties i will be called on to do and i am sure i can do that and the other beautiful thing, i think, if i am if that situation, i can have my mores, and i will be able to get on them and they do give me a shot in the arm, a huge shot of energy when i ride. so, there will be more balance if my life, more of a regular schedule and i do much better in those circumstances. >>neil: if you will indulge me, mrs. romney, when i have a bad bout with the disease i am

short tempered, almost as bad as if i miss lunch which is generally not good but you don't seem to get that way, even if the face of attacks on your husband or the famous cadillac comment, he says things that strike some as being out of touch, and you defend him but you do not dwell open it, you shake your head, but does it pound again and again in light of newt gingrich piling on, saying that your husband, maybe you, by extension, the romney fall in general, is oh -- oblivious to every day people. >>guest: that is so interesting because the one thing this disease has been for me has been a wonderful teacher. and with that comes an ability for compassion for others that are suffering. and for me i want to make my family bigger. those that are suffering from m.s. or cancer or any disease i

feel like i want to throw my arms open and say, well to my family and welcome to the place where i've been and, so, you know, we can be poor in spirit and i don't lock, i don't even consider myself wealthy which is an interesting thing, it can be here today and gone tomorrow, and how i measure riches is by the friends i have and the loved ones i have and the people i care about in my life and that is where my values are and those are my riches so for me having done through a difficult period in my life both with m.s. and with breast cancer it has done something to my heart and it softened my heart and made me realize there are many people suffering in this country and they are suffering from things that are not financial, and some people are suffering from things financial, as well, but those that are suffering for me i have a larger capacity for love, and for understanding. >>neil: but do your aides, to be crass, do they say in the

line of attacks that romneys know anything of pain and suffering or they know nothing about real difficulty when in the course of your 4 40-plus year maim, when a lost spouses, they crack, a lot marriages, political or otherwise, they crack. obviously yours did not and i guess what i am saying why don't you or your husband talk about it more or do you just feel awkward? the rap against your husband is he just feels awkward? >>guest: well, it is modesty for him he does not wear his religion on his sleeve he lives it. if you look at his life, you can see how he has treated me and the compassion he has, he has been there for me, he has been my lifeline and there are so many stories of mitt helping and reaching out and helping other people, and he is very modest about it and he does not talk

about it. will until do you think he should, the reaction you get, there it is a parody, the romneys are picture perfect and cannot relate to us, maybe it is time you change that. >>guest: you know that is something i think we will have a lost momentum going in to this tuesday and this time maybe to regroup and look at that and for me, that is my role and where i have been important and valuable for met -- mit to show another side of him, and i maybe should share the stories how i see mitt dealing with where he has counseled people and help them and be there for them in a very real way. in a very tangible way so i take

that as good advise and maybe you will hear more of those stories. i ran into a woman today that was, knows of a very, why want to talk about it, the ways where we have helped other children and other things, and she said why don't you talk about those things and i am like, okay maybe it is time. >>neil: just talking here, i use it as an excuse to get out of work and to dodge responsibility. you could take that advice anyway you want. >>guest: i think i'll try that now and again. >>neil: it is bad, for example, when -- ann romney, thank you very much, very good to see you. >>guest: thank you. >>neil: president obama and bb not so cozy.

♪ ♪ >> neil: well, president obama today saying that he will always have israel's back. our next guest, not so sure. he is a democrat. new york assembly man doke ican joins me now. assemblyman, you are concerned that this isn't quite what it appears? >> yeah, having the president say that he has israel's back in mind makes me very, very nervous. the barack obama of the campaign season. the barack obama of the first three years. the first three years the relationship between the prime minister of president, the people of israel, and the president has been a very, very poor one. i can't forget 2010, when the prime minister of israel came to the white house and was

treat miserably, treated worse than any dictator of a third world country. no pictures, brought through the back of the white house. we don't forget those things. >> neil: so even what has happened since, sir? obviously, they realize how stupid that was, the white house. have tried to change their approach. but you don't buy it. >> i don't buy it at all. the comments of the president. i'm looking at the president when he was carrying out the policy of the first three years. the relationship was a terrible, terrible one. now with the situation with iran, let me just say, when the president of the united states has to tell the world i don't bluff, i really, really mean it, we are in a lot of trouble. can you imagine ronald reagan saying something like that to the old soviet union, like to try to convince the world i'm a really tough guy. the fact is i don't buy it. i think most people in my

community democrats don't buy it. that relationship has been a very poor one. the speech of the president to appec, a great speech. the president makes great speeches. but it's not about speeches, as he says, it's not about words. it's about his behavior, the way he treated israel during those first three years. president obama is responsible for the end of the peace process, because he set a new standard during the first few months as president. when he said that israel could not build anything i in west bank. not even jimmy carter did that. >> neil: but then he got out by slowing the palestinians on the homeland and the statehood when they were making a move in the united nations. you don't buy that? that was the real agenda? >> again, it's called campaign season. the turner election in new york, in a democratic district sent a powerful message. none of rus fooled by the

president. >> neil: all right. assemblyman, thank you very much. very good to have you. meanwhile, the final four making a final super tuesday push. we have just uncovered one thing they all agree on after this. @=h ok, guys-- what's next ?

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someone is willing to go out and talk about all the issues confronting the country. >> very bold. >> issues of greatest significance. >> i hope you will enjoy and make sure you will be there on tuesday. >> neil: no, they aren't talking about their own plans for super tuesday. they are talking about my plan for super tuesday. and our epic super tuesday coverage on the fox business network starting at 8:00 p.m. eastern tonight be the likes of sarah palin, former g.o.p. presidential candid dade herman cain, mario cuomo don imus. the only place could get market results